Marks Group Wealth Management Inc Lowers Position in Stryker Corporation $SYK

Marks Group Wealth Management Inc lowered its stake in Stryker Corporation (NYSE:SYK) by 3.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,475 shares of the medical technology company’s stock after selling 1,936 shares during the quarter. Stryker accounts for 1.8% of Marks Group Wealth Management Inc’s portfolio, making the stock its 3rd largest position. Marks Group Wealth Management Inc’s holdings in Stryker were worth $19,029,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Kovack Advisors Inc. boosted its stake in shares of Stryker by 3.6% in the 2nd quarter. Kovack Advisors Inc. now owns 771 shares of the medical technology company’s stock worth $305,000 after buying an additional 27 shares during the last quarter. Armstrong Advisory Group Inc. increased its position in Stryker by 12.3% during the third quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock valued at $91,000 after acquiring an additional 27 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Stryker by 1.4% in the third quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock valued at $704,000 after acquiring an additional 27 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in Stryker by 3.9% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company’s stock worth $275,000 after purchasing an additional 28 shares during the last quarter. Finally, Wolff Wiese Magana LLC grew its stake in shares of Stryker by 2.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,271 shares of the medical technology company’s stock valued at $470,000 after purchasing an additional 28 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SYK has been the topic of several recent research reports. Citizens Jmp upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective on the stock in a research note on Friday, December 19th. The Goldman Sachs Group set a $399.00 price target on shares of Stryker in a research report on Friday, January 9th. William Blair assumed coverage on shares of Stryker in a research note on Friday. They set an “outperform” rating on the stock. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Robert W. Baird set a $437.00 target price on Stryker in a research report on Friday, January 30th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $426.94.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.20% of the company’s stock.

Stryker Stock Up 2.0%

Shares of SYK stock opened at $380.15 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. Stryker Corporation has a one year low of $329.16 and a one year high of $404.87. The company’s fifty day moving average price is $360.05 and its 200-day moving average price is $368.82. The company has a market capitalization of $145.48 billion, a price-to-earnings ratio of 45.26, a PEG ratio of 2.22 and a beta of 0.87.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.40 by $0.07. The company had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. Stryker’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.01 EPS. Sell-side analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be given a dividend of $0.88 per share. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 annualized dividend and a dividend yield of 0.9%. Stryker’s dividend payout ratio (DPR) is currently 41.90%.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.